Public Sector Accounting Standards

Effective Dates for New Standards

Pronouncement	Application
April 1, 2023:
Revenue, Section PS 3400	Fiscal years beginning on or after April 1, 2023. Earlier adoption is permitted.
Purchased Intangibles, PSG-8	Fiscal years beginning on or after April 1, 2023. Earlier adoption is encouraged.
Public private partnerships, Section PS 3160	Fiscal years beginning on or after April 1, 2023. Earlier adoption is permitted.
April 1, 2022:
Financial Statement Presentation, Section PS 1201	When Sections PS 2601 and PS 3450 are adopted.
Foreign Currency Translation, Section PS 2601	Fiscal years beginning on or after April 1, 2022, except for government organizations that applied the CPA Canada Handbook – Accounting prior to adopting the CPA Canada Public Sector Accounting Handbook. Earlier adoption is permitted when adopting Sections PS 1201 and PS 3450.
Portfolio Investments, Section PS 3041	When Sections PS 1201, PS 2601 and PS 3450 are adopted.
Financial Instruments, Section PS 3450	Fiscal years beginning on or after April 1, 2022, except for government organizations that applied the CPA Canada Handbook – Accounting prior to adopting the CPA Canada Public Sector Accounting Handbook. Earlier adoption is permitted when adopting Sections PS 1201 and PS 2601.
Asset Retirement Obligations, Section PS 3280	Fiscal years beginning on or after April 1, 2022. Earlier adoption is permitted.